The Swiss National Bank finally has a new Chairman to replace former chief Philipp Hildebrand resigned in January over a controversial currency transaction involving his wife.
This Wednesday afternoon just before 12:00 GMT, Thomas Jordan was announced as the new SNB head, who becomes the eleventh president of the central bank since World War II.
Jordan’s appointment is effective immediately. Meanwhile, Jean-Pierre Danthine becomes vice chairman and Fritz Zurbruegg was named a new board member.
Jordan, aged 49, was acting as interim president since January. He has worked for the Swiss National Bank since 1997 and joined the SNB governing board in 2003.
Following the official announcement of his appointment, Jordan gave a press conference and reiterated that the SNB is committed to enforcing the cap of 1.20 per euro on the Swiss franc.
The euro briefly fell below the 1.20CHF floor earlier this month on renewed euro zone debt worries and has hovered just above the cap in recent days.